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News & Views

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Celebrating International Women's Day: A Global Call to Action

International Women's Day (IWD), celebrated annually on March 8th, is a global day dedicated to honoring the social, economic, cultural, and political achievements of women. It also serves as a call to action for accelerating gender parity and addressing ongoing challenges faced by women worldwide.

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After A Decade, The IASB Releases the Third Edition of the International Financial Reporting Standard for Small and Medium-Sized Entities (IFRS for SMES)

The International Financial Reporting Standard for Small and Medium-sized Entities, shortened to “IFRS for SMEs”, was initially released by the International Accounting Standards Board (IASB) in 2009 to provide a simplified and tailored financial reporting framework for small and medium-sized enterprises (SMEs). The IASB recognised that full IFRS standards were designed primarily for publicly accountable entities (e.g., listed companies and financial institutions), making them complex and costly for SMEs to apply.

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Unpacking Specific Goals with Regards to Public Procurement (Government Tenders) in South Africa

The South African Government has prioritised redressing the inequalities created by the apartheid system. One of the key instruments used to achieve this goal is the Preferential Procurement Policy Framework Act (PPPFA), alongside its regulations, which direct how the government institutions are to prioritize the economic empowerment of historically disadvantaged individuals (HDIs) when these government institutions procure goods and services.

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South Africa’s 2025 Economic Outlook

Economists are cautiously optimistic about South Africa’s economic prospects in 2025. The effects of structural reforms and increased investment in the South African economy have largely contributed to the positive economic outlook. While opportunities exist, geopolitical and international developments could pose significant challenges, creating additional economic headwinds.

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Thistle – A Continued Thorn in the Taxpayer’s Side

The taxation of trusts in South Africa (“SA”) has long been a debated area of tax law, shaped by evolving legal interpretations. The recent case of Thistle Trust v Commissioner for the South African Revenue Service (CCT 337/22) [2024] ZACC 19 (2 October 2024) (“Thistle”) addresses the tax treatment of capital gains arising within multi-tiered trust structures.   This article briefly explores the taxation of different types of trusts in SA and examines the impact of the Thistle decision.

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Just Energy Transition (JET) and Implications for Business

Over the recent past, the concept of the Just Energy Transition has gained considerable momentum globally as countries urgently seek to balance action on climate change with socio-economic equity.   With South Africa's heavy reliance on coal for energy and jobs, the JET presents immediate business challenges and opportunities. The implications of JET for South African businesses and social and environmental aspects are discussed and explored within this article in that it will look at the main drivers of transition, risk, and opportunities that businesses might encounter and cover the actionable takeaways for navigation in this urgent and complex landscape.

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Get Your Financial House in Order These Holidays

As 2024 draws to a close, we are reminded of a year that has truly been a roller-coaster for all South Africans. Amidst the challenges of load shedding and the jubilation of the Springboks' triumphant return as world champions, we look forward to a well-deserved break. As we recharge and set our sights on a hopeful 2025, it is crucial to take a moment for one last task this year: a financial health check.

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Sustainable Agriculture: A Cornerstone of South Africa's Future

Sustainable agriculture practices are gaining traction as a crucial strategy for ensuring the long-term viability of the sector. The World Commission on Environment and Development's (WCED) definition of 'sustainable development' is "development that meets the needs of the present without compromising the needs of future generations to meet their own needs".

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Strengthening Your Cyber Defences

As cyber-attacks become more sophisticated, the need for comprehensive cybersecurity strategies is more pressing than ever. This article summarizes the common cyber risks, how the attack works and essential steps for transforming weaknesses into strengths.

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SARS Interpretation Note 15: SARS Updates Guidance on the Exercise of Discretion to Extend the Period to Lodge an Objection or Appeal

The South African Revenue Service (SARS) has issued Interpretation Note 15 (issue 6) on 30 August 2024. Alison Gounden unpacks in detail.